Middle Market Private Debt Associate
- London, England, United Kingdom
- Permanent, Full time
- 07 Dec 17 2017-12-07
Business Unit Overview: Fixed Income BlackRock offers a range of investment products—equity, fixed income, liquidity and alternative investment—each managed by a dedicated investment team of portfolio managers, research analysts and traders. Focused portfolio management and proprietary research are the cornerstones of our
Business Unit Overview:
BlackRock offers a range of investment products—equity, fixed income, liquidity and alternative investment—each managed by a dedicated investment team of portfolio managers, research analysts and traders. Focused portfolio management and proprietary research are the cornerstones of our investment philosophy, and portfolio construction is based on each team's market outlook.
BlackRock's investment teams are staffed with professionals who have significant experience within their respective markets. Our portfolio teams manage assets for institutional and individual investors alike. Accordingly, all of our clients benefit from our portfolio management expertise and risk management analytics.
All of our portfolio managers leverage the expertise of other investment teams through the strength of a shared research, trading and risk management platform. Our investment professionals benefit from the resources of a world-class firm that continually invests in its business and is differentiated by a team approach and integrated research and risk management.
The Fixed Income team offers an array of fixed income products designed to meet specific client risk and return profiles. Incorporating the expertise of BlackRock's sector specialists, each client portfolio is tailored to reflect specific investment guidelines and objectives with respect to interest rate exposure, sector allocation and credit quality.
Fixed Income is developing investment processes to address opportunities for our clients in the European private credit space and needs a credit analyst to manage the underwriting and execution of direct financing opportunities in European mid-market corporates.
The Associate of Middle Market Private Debt credit research will be responsible for structuring and assessing mid-market direct lending investment opportunities across Europe. Partnering with the Origination team and the senior middle market private debt research analyst, she/he will be responsible for the fundamental credit analysis of direct lending investments made on behalf of our clients and funds for mid-market corporates in the UK and Western Europe. The Middle Market Private Debt team provide mid-market companies with senior and subordinated financing for acquisitions, capital growth, restructuring, LBO’s and liquidity situations. He or she will lead an effective fundamental credit research analysis and contribute to driving the investment process in partnership with the Portfolio Manager and other analysts in the team. The role will entail the following:
- Conduct independent fundamental credit analysis, due diligence and approval of new investments
- Calibrate financing needs and structures for prospective borrowers
- Financial modelling of investment opportunities
- Interact with management teams, industry sources, and other investment professionals
- Seek solution to deal structures and issues within the boundaries of fund parameters in co-ordination with the originator and external participants
- Full involvement in the investment evaluation process including attendance at management presentations, review of due diligence reports, and preparation of internal investment proposals in conjunction with originators
- Presents Portfolio Manager and Investment Committee with a clear and consistent approach to mitigate credit, legal, industry and other relevant risks
- Champion selected investment opportunities (in coordination with Origination) through the investment process until completion
- Provides input on terms and conditions for transactions and works with legal to ensure appropriate documentation
- Negotiation and review of transaction legal documentation and liaising with internal and external legal advisers
- Ongoing monitoring of portfolio assets including incl waivers & amendments, contributing to the quarterly fund valuation process and reporting to investors.
- Involvement in providing portfolio reports and analytics for internal and external use
- Adhere to investment process and operational standards
Help identify and manage operational risks
Skills, experience and education:
- Excellent credit skills demonstrated through prior relevant experience underwriting, structuring and executing direct lending/private debt and/or leveraged finance transactions
- Ability to direct the structuring of a transaction and working with originators to complete investment opportunities
- Strong financial modelling and legal documentation skills
- Motivated team player and flexible in approach with ability to work independently
- Flexible, responsive with keen attention to detail.
- Open-minded thought process and intellectual honesty with an ability to dynamically adapt to coverage of different products
- Excellent written and verbal communication skills – presents ideas in a clear, concise and constructive manner
- Excellent academic background
- Must be fluent in English
- Other European language skills (eg French, German)